On top of the threat of the U.S. Federal Reserve tightening the screws, the risk of another recession in Europe and a stumbling recovery in Japan, there are a deck of "wild cards" that could trip up the global economy in the coming year, experts warned at the World Economic Forum (WEF) in Tianjin, China.
CNBC shuffles through the pack to see what the world should look out for in 2015.
A major, under-appreciated risk to the world economy is infectious diseases, says Victor Chu, chairman of Hong Kong based private equity firm First Eastern Investment Group.
"We're not prepared for another major outbreak of Ebola, SARS or another infectious disease," Chu told CNBC on the sidelines of WEF in Tianjin, China.
"We need a new global governance structure to allow more experimental drugs to be distributed a lot more quickly than existing arrangements because you don't know what's next. Ebola is scary, but the next variation will be scarier," he added.
Ebola – which was declared an international public health emergency early last month – is already having a serious economic impact on the economies of Guinea, Liberia and Sierra Leone in West Africa, where the outbreak is occurring.
The closure of borders and suspension of flights has begun to hinder trade flows in the region, while tourism is also taking a severe hit.